Advising on Life’s Big Changes

Advising on Life’s Big Changes

There is often a vast gulf between what people think financial advice is all about and what it actually is. The popular view that advice is solely focused on picking good investments is akin to the view of a GP as someone whose role is purely to prescribe pills.

Here we provide a few of the many reasons why you might want to seek the counsel of a professional adviser as a helpful starting point.


Reason #1: Your life is undergoing a fundamental change

If you’ve lived long enough, you will have learnt that life is not a straight road. We start off on one path and then something happens. It might be a seemingly incremental occurrence – we meet someone, we stumble on an idea, we lose someone or something. But things change.

Initially, we think we can absorb that change with little adjustment. But sooner or later we realise this is going to take a complete alteration in our course. Suddenly, we find our priorities are reordering themselves and what we used to value little or not at all is now our number one concern. Something has fundamentally altered.

Now, the nature of fundamental change is that it rarely impinges on just one area. A change of career might mean having to take a cut in pay. A second marriage might require a larger home to accommodate all the children. An illness might force an extended sabbatical from paid work. A decision to quit a dead-end job might necessitate a return to tertiary education. And, of course, retirement can be the biggest transition of them all.

Sometimes, even a transition that appears to be an unequivocal step up, like a move to a higher paying job, can go awry because we discover belatedly that we have struck the wrong balance between financial and other considerations.

The point is that the material considerations of our lives are inevitably bound up with the emotional, the physical, the intellectual and the spiritual. Even a philosophical realignment could lead us to reassess our assets and liabilities. Everything is bound together, and it is hard to manage change successfully without a holistic approach that provides structure.

This shouldn’t really be surprising, given the connectedness of everything, but it is astounding how many people think they can ring-fence one corner of their lives from a fundamental change elsewhere and think everything can go on as normal.


Reason #2: The virtue of structure

Providing that structure amid all the random connections and collateral impact of change is what professional financial advisers do. Few of us can live inside the turmoil of life’s turning points, all the while successfully managing short-term change and keeping focused on long-term goals.

We need someone to help us clarify where we are, how we got here, where we want to go and how we are going to get there. We can’t fall back on old ways of thinking, because we’re finding ourselves in a completely new landscape. Put another way, we’re in the middle of a complex gear change and we need someone to look at what might be coming over the hill.

Anyone who has been through a fundamental life change knows there are a LOT of moving parts. There are existing obligations and other people to consider. But there are also new commitments and goals that can clash with those established ones.

Yes, the financial challenges are just one of the most visible manifestations of that turmoil. But oddly, people often find by acquiring a clear grasp of the material issues involved with change and an understanding of their options, the emotional side gets easier to deal with. A divorce, for instance, is always wrenching, particularly when there are children involved. And if there is a new relationship, with another set of children, the considerations multiply. An overwhelming emotional crisis coincides with a financial one.


Reason #3: Providing headspace

While a financial adviser is not a psychological counsellor, they can help clear some headspace for you to deal with the mental transition by making the physical and financial transition easier and by providing the plan and structure for you to achieve it.

Changing careers is not as stressful as a divorce, but nevertheless can be hugely challenging. Old cosy certainties give way to questions about where you fit and what your value is. You may love the change, but it might come at the cost of a significant downward shift in compensation.

Again, the emotional is tied up with the financial. But it’s only by getting those underlying material structures adjusted, that you can find the space for the non-material side of change.



Change is one of the few certainties in life. None of us can avoid it. But we can make these transition points easier with the help of someone who is not on the rollercoaster with us, and who can see what’s awaiting after the ride, to help us through it.

Next steps

If you have any questions/thoughts in relation to this article or would like more information, please contact Gordon Thoms or David Conte at Calibre Private Wealth Advisers on ph. (03) 9824 2777 or email us here.

The information contained in this article is of a general nature only and may not take into account your particular objectives, financial situation or needs. Accordingly, the information should not be used, relied upon or treated as a substitute for personal financial advice. While all care has been taken in the preparation of this article, no warranty is given in respect of the information provided and accordingly, neither Calibre Private Wealth Advisers, its employees or agents shall be liable for any loss (howsoever arising) with respect to decisions or actions taken as a result of you acting upon such information.



This advice may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. Please seek personal financial and tax/or legal advice prior to acting on this information. Before acquiring a financial product a person should obtain a Product Disclosure Statement (PDS) relating to that product and consider the contents of the PDS before making a decision about whether to acquire the product. The material contained in this document is based on information received in good faith from sources within the market, and on our understanding of legislation and Government press releases at the date of publication, which are believed to be reliable and accurate. Opinions constitute our judgment at the time of issue and are subject to change. Neither, the Licensee or any of the Oreana Group of companies, nor their employees or directors give any warranty of accuracy, nor accept any responsibility for errors or omissions in this document. Gordon Thoms and David Conte of Calibre Private Wealth Advisers are Authorised Representatives of Oreana Financial Services Limited ABN 91 607 515 122, an Australian Financial Services Licensee, Registered office at Level 7, 484 St Kilda Road, Melbourne, VIC 3004. This site is designed for Australian residents only. Nothing on this website is an offer or a solicitation of an offer to acquire any products or services, by any person or entity outside of Australia.

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